Monday, March 4, 2024
HomeFunding London-based Monument Secures over $50M in Series B Round Funding

[Funding alert] London-based Monument Secures over $50M in Series B Round Funding

London-based Monument secures over $50M in series B round funding. The funding round was supported by both new and old investors. The funds will be used by the company to grow both its operations and its clientele.

London-based Monument secures over $50M in series B round funding. The funding round was supported by both new and old investors. The funds will be used by the company to grow both its operations and its clientele.

Monument, a neo-bank headed by CEO Ian Rand and founded by Mintoo Bhandari, will open in the UK to meet the needs of a large number of wealthy customers, estimated to be 4.8 million professionals, entrepreneurs, real estate investors, and others, who are searching for a bank to help them save and increase their wealth, which is estimated at c. £6 trillion in the UK and £80 trillion globally.

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In November 2021, Monument acquired a complete banking licence and started offering loans for real estate investment. The company announced in December 2021 the release of its app and initial line of products. Users can contact the UK-based team via email, chat, video, or phone calls via the app.

Through Monument Lifestyle, the spp provides customers access to a financial experience that goes beyond banking. Its more than 35 services, which were introduced earlier this year, have the goal to save time and money for time-pressed professionals, business owners, and their families who are looking to realise their wealth-creation potential.

Read also – Copenhagen-based Biotech Startup Octarine Bio Secures €4.35 Million in Funding

Following the disclosure of Monument’s strategic relationship with Dubai Investments earlier in the year, in which the company bought about 9% shares of the Bank, came the completion of the Series B investment.

The UAE-based investment the group has increased its investment in the Bank as part of the cooperation with Dubai Investments, with the objective of doubling its stake in the Bank, pending regulatory approval.

About Monument

Monument will build a bank that recognises your hard work and accomplishments. They also realise that there is always more to come, just like you. Their unmatched degree of service is founded on the conviction that, as a Monument member, your time is more valuable than ours.

Read also – Finnish-based Cleantech Startup SpinDrive Raises €3.8 Million in Series A Round Funding

And they succeed when you succeed. They will always be grateful for your loyalty. As a way of saying thank you for choosing to stay with Monument, They will provide you special prices.

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